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Multi-Family

East 108th Street Development Site

157 E 108th St, New York, NY 10029

Listing Price: $23,000,000

Lot Size
2.42 acres
Price/Acre
$9,493,164
Land Type
Land

Investment Overview

Marcus & Millichap has been engaged to market the property at 157-181 East 108th Street and 176, 182 and 184 East 109th Street. The Northern Manhattan Assemblage is composed of a) 22,329 square feet of land area with 221.5 feet of frontage on East 108th Street and b) three walk-up multi-family properties fronting East 109th Street. The eastern most property on 108th Street is improved by a four-story commercial loft building - each in-place lease has a landlord termination option. The remainder of the East 108th Street properties are improved by an uncovered parking lot. Two of the East 109th Street buildings are free-market. Lot 41 contains rent-regulated units. The assemblage has a full ZFA of 115,017 square feet. If none of the East 109th Street properties are demolished but the air rights are utilized, the ZFA is 100,334 square feet. If only Lot 141 is demolished, the ZFA is 105,537 square feet. Ownership is seeking to sell the site fee simple on an as-is basis.

Investment Highlights

  • Prime Upper East Side Development Site
  • Close proximity to various modes of transportation
  • Ownership is selling the site fee simple on an as-is basis

Exclusively Listed By

Multi-Family

East 108th Street Development Site

Listing Price: $23,000,000

Lot Size
2.42 acres
Price/Acre
$9,493,164
Land Type
Land

Investment Highlights

  • Prime Upper East Side Development Site
  • Close proximity to various modes of transportation
  • Ownership is selling the site fee simple on an as-is basis

Investment Overview

Marcus & Millichap has been engaged to market the property at 157-181 East 108th Street and 176, 182 and 184 East 109th Street. The Northern Manhattan Assemblage is composed of a) 22,329 square feet of land area with 221.5 feet of frontage on East 108th Street and b) three walk-up multi-family properties fronting East 109th Street. The eastern most property on 108th Street is improved by a four-story commercial loft building - each in-place lease has a landlord termination option. The remainder of the East 108th Street properties are improved by an uncovered parking lot. Two of the East 109th Street buildings are free-market. Lot 41 contains rent-regulated units. The assemblage has a full ZFA of 115,017 square feet. If none of the East 109th Street properties are demolished but the air rights are utilized, the ZFA is 100,334 square feet. If only Lot 141 is demolished, the ZFA is 105,537 square feet. Ownership is seeking to sell the site fee simple on an as-is basis.

Exclusively Listed By

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